The Methodology of Multiple Regressions for GDP per Capita for Nations in the World Between 0 CE and 1940
A reduced-form model of GDP per capita is estimated using the classical econometric method and two Bayesian techniques, Extreme Bounds Analysis (EBA) and Bayesian Analysis of Classical Estimation (BACE) for the two millenniums. For several variables, such as the impact of colonialism, the Goldstone hypothesis of efflorescence increasing economic growth, and the impact of technology, this paper lends support, especially when the Bayesian methods are applied. Other results are mixed. Generally, the results support use of Bayesian methods by eliminating hypotheses that are not consistently supported over all models.
"The Methodology of Multiple Regressions for GDP per Capita for Nations in the World Between 0 CE and 1940,"
The Journal of Economics and Politics: Vol. 27:
1, Article 2.
Available at: https://collected.jcu.edu/jep/vol27/iss1/2